XML 137 R118.htm IDEA: XBRL DOCUMENT v3.25.0.1
SEGMENT REPORTING - Schedule of Significant Components of the Company's Revenues and Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) $ 11,733,066 $ 8,862,366 $ 9,213,540
Net premiums written 9,952,216 7,467,813 7,196,160
Net premiums earned 10,095,760 7,471,133 6,333,989
Net claims and claim expenses incurred 5,332,981 3,573,509 4,338,840
Acquisition expenses 2,643,867 1,875,034 1,568,606
Operational expenses 496,588 375,182 276,691
Underwriting income (loss) 1,622,324 1,647,408 149,852
Net investment income 1,654,289 1,253,110 559,932
Net foreign exchange gains (losses) (76,076) (41,479) (56,909)
Equity in earnings (losses) of other ventures 47,087 43,474 11,249
Other income (loss) 1,928 (6,152) 12,636
Net realized and unrealized gains (losses) on investments (27,840) 414,522 (1,800,485)
Corporate expenses (134,784) (127,642) (46,775)
Interest expense (93,768) (73,181) (48,335)
Income (loss) before taxes 2,993,160 3,110,060 (1,218,835)
Income tax benefit (expense) (32,628) 510,067 59,019
Net (income) loss attributable to redeemable noncontrolling interests (1,090,172) (1,058,995) 98,613
Dividends on preference shares (35,375) (35,375) (35,375)
Net income (loss) available (attributable) to RenaissanceRe common shareholders 1,834,985 2,525,757 (1,096,578)
Net claims and claim expenses incurred – current accident year 6,184,315 4,024,116 4,586,422
Net claims and claim expenses incurred – prior accident years (851,334) (450,607) (247,582)
Total net incurred $ 5,332,981 $ 3,573,509 $ 4,338,840
Net claims and claim expense ratio – current accident year 61.30% 53.90% 72.40%
Net claims and claim expense ratio – prior accident years (8.50%) (6.10%) (3.90%)
Net claims and claim expense ratio – calendar year 52.80% 47.80% 68.50%
Underwriting expense ratio 31.10% 30.10% 29.20%
Combined ratio 83.90% 77.90% 97.70%
Other      
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) $ 0 $ 0 $ 0
Net premiums written 0 0 0
Net premiums earned 0 0 0
Net claims and claim expenses incurred 0 0 0
Acquisition expenses 0 0 0
Operational expenses 0 0 0
Underwriting income (loss) 0 0 0
Net investment income 1,654,289 1,253,110 559,932
Net foreign exchange gains (losses) (76,076) (41,479) (56,909)
Equity in earnings (losses) of other ventures 47,087 43,474 11,249
Other income (loss) 1,928 (6,152) 12,636
Net realized and unrealized gains (losses) on investments (27,840) 414,522 (1,800,485)
Corporate expenses (134,784) (127,642) (46,775)
Interest expense (93,768) (73,181) (48,335)
Income tax benefit (expense) (32,628) 510,067 59,019
Net (income) loss attributable to redeemable noncontrolling interests (1,090,172) (1,058,995) 98,613
Dividends on preference shares (35,375) (35,375) (35,375)
Net claims and claim expenses incurred – current accident year 0 0 0
Net claims and claim expenses incurred – prior accident years 0 0 0
Total net incurred 0 0 0
Property      
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) 4,823,731 3,562,414 3,734,241
Net claims and claim expenses incurred – prior accident years (818,852) (408,905) (205,741)
Property | Operating Segments      
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) 4,823,731 3,562,414 3,734,241
Net premiums written 3,833,636 2,967,309 2,847,659
Net premiums earned 3,850,352 3,090,792 2,770,227
Net claims and claim expenses incurred 1,141,726 799,905 2,044,771
Acquisition expenses 758,554 600,127 547,210
Operational expenses 302,360 251,433 194,355
Underwriting income (loss) 1,647,712 1,439,327 (16,109)
Net claims and claim expenses incurred – current accident year 1,960,578 1,208,810 2,250,512
Net claims and claim expenses incurred – prior accident years (818,852) (408,905) (205,741)
Total net incurred $ 1,141,726 $ 799,905 $ 2,044,771
Net claims and claim expense ratio – current accident year 50.90% 39.10% 81.20%
Net claims and claim expense ratio – prior accident years (21.20%) (13.20%) (7.40%)
Net claims and claim expense ratio – calendar year 29.70% 25.90% 73.80%
Underwriting expense ratio 27.50% 27.50% 26.80%
Combined ratio 57.20% 53.40% 100.60%
Casualty and Specialty      
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) $ 6,909,335 $ 5,299,952 $ 5,479,299
Net claims and claim expenses incurred – prior accident years (32,482) (41,702) (41,841)
Casualty and Specialty | Operating Segments      
Segment Reporting Information [Line Items]      
Gross premiums written (Note 7) 6,909,335 5,299,952 5,479,299
Net premiums written 6,118,580 4,500,504 4,348,501
Net premiums earned 6,245,408 4,380,341 3,563,762
Net claims and claim expenses incurred 4,191,255 2,773,604 2,294,069
Acquisition expenses 1,885,313 1,274,907 1,021,396
Operational expenses 194,228 123,749 82,336
Underwriting income (loss) (25,388) 208,081 165,961
Net claims and claim expenses incurred – current accident year 4,223,737 2,815,306 2,335,910
Net claims and claim expenses incurred – prior accident years (32,482) (41,702) (41,841)
Total net incurred $ 4,191,255 $ 2,773,604 $ 2,294,069
Net claims and claim expense ratio – current accident year 67.60% 64.30% 65.50%
Net claims and claim expense ratio – prior accident years (0.50%) (1.00%) (1.10%)
Net claims and claim expense ratio – calendar year 67.10% 63.30% 64.40%
Underwriting expense ratio 33.30% 31.90% 30.90%
Combined ratio 100.40% 95.20% 95.30%